FBMKLCI
1892.33 +8.37pts (+0.44%)
Volume 2.007b Value 2.172b
1)The KLCI trended upwards closing at an all-time high
boosted by heavyweights TENAGA +1.85% & PETGAS +1.64% after the US market
closed flat overnight just before the release of GDP data tomorrow. In the
regional market, bourses were stronger after HSI rebounded from the lowest
point in 3 months to close +0.33% above led by technology stocks, SHCOMP also
rebounded today closing at +0.47% above; while the KOSPI was the biggest gainer
among the region +0.98% today. In the local market, INDUSTRIAL index gained
+0.95% today outpacing the other sectors boosted by PETGAS, PMETAL, LAFMSIA.
Market breadth was positive with gainers thumping losers by 451 : 396. Futures
closed at 1893 (1 pt premium).
2) Heavyweights : TENAGA +1.85% RM12.06, PETGAS +1.64%
RM24.70, YTL +3.22% RM1.60, AXIATA +0.57% RM6.99, SIME +0.62% RM9.62, IOICORP
+0.76% RM5.28, MAYBANK +0.30% RM9.83, ASTRO +2.29% RM3.56.
3) DBT : DUTALND 8mil @ RM0.50, BONIA 4.5mil @ RM 5.40
(2.23% PUC @ 5.1% discount), XINGHE 4mil @RM0.24
4) Situational:-
SUMATEC +12.72% RM0.31 - Sumatec Resources Bhd says fresh
review of its oil and gas field in Rakushechnoye, Kazakhstan has yielded a
14.5% increase in proven oil reserves to 129.0m barrels. The company added that
an additional 10.0m barrels of oil is now available under 2P reserves to
Sumatec (worth USD175.0m in net profit from oil sale) without paying any more
than the initial USD95.0m. The estimated net profit of USD175.0m was based on
Brent price of RM321.0 per barrel and USD35.0 per barrel net profit of which
Sumatec is entitled to 50.0% of, after 2.0m barrels of oil has been produced.
Trading BUY
5) CNASIA: announced that CNASIA Capital Sdn Bhd, a
wholly-owned subsidiary, had on 24 June 2014 entered into a framework agreement
with KenMakmur Holdings Sdn Bhd for the proposed production of liquified
petroleum gas and condensate from the natural gas supplied by the Rakushechnoye
Oil/Gas Field. The Rakushechnoye oil and gas field is located in the Karakiyan
District of the Mangistau Oblast, Kazakhstan. KenMakmur had on 3 June 2014
signed an agreement with Markmore Energy (Labuan) Limited ("MELL") to
extract 600 metric tonne ("MT")/day of LPG and 160 MT/day of
condensate from the 100.0 million standard cubic feet(MMSCF) of gas supplied by
MELL ; +ve, as CNASIA is currently
involved in the manufacturing of process equipment for the petroleum industry,
the Proposed LPG Production provides group the opportunity to utilise its
specialised expertise gained in the design and manufacture of various process
equipment to venture into the downstream business of operating petrochemical
processing plants to realise a long term stream of revenue and profit. Impact
on earnings can only be determined upon finalisation of the terms of the
funding process required for the Proposed LPG Production and the execution of
the LPG Production Agreement, but is expected to contribute positively.
6) Market : Is expected to be further range bound given
the lack of fresh domestic leads. Rotational plays amongst small caps are
expected to continue through the week.